With a syndicated column appearing in over 100 newspapers, Michelle Singletary's unique perspective of personal finance has wide appeal. She'll share that wisdom in Buffalo on October 8th as part of NPR's "Family Matters."
The event, hosted by NPR's David Greene and Sonari Glinton, will take place in the studios of WNED-TV.
In advance of her appearance, Michelle Singletary shared some of her thoughts on pressing financial topics, including college debt.
"I personally think it's the next housing crisis. When you look at the overall outstanding debt, it's over one trillion dollars," Singeltary said.
Her advice to parents: get out in front of the situation.
"At that point you have to say, before they get to high school, 'Listen sweetie we don't have the money to send you carte blanche to any college you apply to."
Singletary suggests informing prospective students of the values found in public universities and community colleges.
All alternatives should be considered over stacking up college loans.
"Maybe you need to work a couple of years and then maybe we can work together to send you to college."
Save early, save often, Singletary reminds, are the best elements to amassing retirement savings. However, she acknowledges that many older people don't have the luxury of time.
"I do not subscribe to so many financial experts who want to scare them to death," Singletary said.
"What is the option? You are going to live. The life expectancy is increasing for both men and women. If you are physically able it may mean working through your sixties and into your seventies. If that's the only way to build up a savings, then embrace it."
If you are not able to continue working, you might have to think, 'okay, where am I going to live? Perhaps, if I have a home, I can bring in a roommate."
Stock market. "I'm not one to tell people not to panic because I don't think that is helpful to folks because absolutely you're going to be worried. This is your retirement money.
"I think this time when the market is going crazy is your opportunity to understand what you're doing with your investment dollars. When you are in a 401k, have you been opening up those statements that you get on a quarterly basis?"
Do you have personal finance questions? Perhaps you're wondering if you can afford to retire or have questions about student loan debt. Tell us your story here and register for free tickets to the Oct. 8 event.
